Interest rates to remain stable in 2017: Central Bank of VietnamInterest rates were stable in the first month of 2017 and will remain steady for the entire year, the State Bank of Viet Nam (SBV) said on Thursday. Some commercial banks inched up deposit interest rates by 0.1 per cent to 0.3 per cent per year in January. However, the central bank said the rise was only in some small-sized banks and did not reflect the common trend of the entire banking system. Besides increasing the interest rates right after the Lunar New Year holiday to accelerate deposits, some commercial banks also offered promotional programmes to attract depositors. General director of Asia Commercial Bank Do Minh Toan said that since banks could hardly increase lending rates, the deposit rates were unlikely to rise much.

Source: VietNamNet News February 13, 2017 04:37 UTC